Employment Termination Payments (ETP) 2012-2013
Legislation was passed late in June 2012 that requires additional information to be provided for ETPs from 1 July 2012. As a result, the printed ETP format has changed for the 2012-2013 financial year. Software changes to accommodate these requirements have not yet been completed due to the very late notification by the Australian Tax Office.
For now, ETPs for the current financial year should be processed in Sybiz Visipay in the same manner as last year but the employee should not be given the printed ETP created by Sybiz Visipay. Instead, employers should obtain the relevant forms from the ATO and complete them by hand.
We will advise further on this topic as the year progresses. We will take into account usability and ease of transition factors in an effort to make the changes as seamless as possible. Please note that there will be no changes made to Sybiz Visipay 9.60 or lower. To make sure you are up to date with requirements resulting from changes to legislation you will need to upgrade to the latest version of Sybiz Visipay.